Molson Coors Names New Chairman of the Board

David Eisenberg

Jun. 3, 2015 at 12:53 PM

Geoff Molson

Molson Coors today appointed Geoff Molson, a member of the Molson Coors board of directors, as its new chairman.

In accordance with company bylaws that require the roles of chairman and vice chairman to alternate between the Molson and Coors families every two years, Geoff Molson, a seventh generation member of the Molson family, supplants Pete Coors who will become vice chairman.

Molson has served as a Molson Coors director since 2009 and the vice president of Molson USA, the company said in a statement. Throughout his tenure with the company, he has held different positions in sales, marketing, quality and distributor development.

In a news release, Mr. Molson commended Pete Coors for effectively leading the company through “a time of transformation,” by not only expanding the company’s portfolio and footprint, but also identifying the “right candidate” in Mark Hunter to succeed retiring CEO Peter Swinburn.

“Under his leadership, the company has significantly expanded its portfolio of products to ensure we are providing the right mix of flavor profiles to satisfy today’s consumer,” said Molson in the statement. “As incoming chairman, I look forward to continued engagement with our strong, independent board and leadership team as we build on these successes to further strengthen Molson Coors’ position in the market.”

Mr. Coors is also the chairman of the board of MillerCoors, Molson Coors’ joint venture.

A full press release is included below.

MONTREAL & DENVER — In a planned transition consistent with the company’s by-laws, Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today announced that Geoff Molson, a member of the Molson Coors Board of Directors, will assume the role of chairman, and Pete Coors, current chairman, will assume the role of vice chairman, effective June 3, 2015. The by-laws provide for the chairman and vice chairman to alternate between the Molson and Coors families on a rotating two-year term.

“This has been a time of transformation at Molson Coors under Pete’s guidance as chairman. Under his leadership, the company has significantly expanded its portfolio of products to ensure we are providing the right mix of flavor profiles to satisfy today’s consumer. At the same time, the company has also continued its expansion into select global markets, growing the footprint of brands like Coors Light, Carling and Staropramen. During Pete’s tenure, we also identified the right candidate in Mark Hunter to succeed outgoing CEO Peter Swinburn,” said Geoff Molson. “As incoming chairman, I look forward to continued engagement with our strong, independent board and leadership team as we build on these successes to further strengthen Molson Coors’ position in the market.”

“I am pleased to be passing the chairmanship to Geoff, a seventh generation member of the Molson family. As we look to the future, both families continue to share a long-term commitment to the beer industry and this company. This was certainly reflected in Andrew Molson’s leadership as both vice chairman and chairman over the past four years as he played a vital role in our successes and strategic direction,” Pete Coors commented. “Our generations of family leadership drive us to take a long-term view of building value by investing in brands, attracting and retaining the best talent, and ensuring quality across the entire enterprise. I have every confidence in the leadership of our company and our prospects for future growth.”

Geoff Molson has served as a Molson Coors director since December 2009, and is the president and chief executive officer of the CH Group Limited Partnership, as well as owner of the Montréal Canadiens Hockey Club, evenko, l’Équipe Spectra and The Bell Centre. From 2006 to December 2009, Mr. Molson served as vice-president of marketing for Molson in Canada. He previously held various positions in sales, marketing, quality and distributor development at Molson from 1999 to 2005, including Vice President for Molson USA. Mr. Molson holds an MBA from Babson Business School and a BA from St. Lawrence University. He is a member of The Molson Foundation, a family foundation dedicated to the betterment of Canadian society, as well as St. Mary’s Hospital Foundation and the Montreal Canadiens Children’s Foundation.

Pete Coors is chairman of the board of MillerCoors, Molson Coors’ US joint venture. He previously served as chairman of the board of Adolph Coors Company from 2002 to 2005, and was chief executive officer from May 2000 to July 2002. Mr. Coors also served as a director of Coors Brewing Company, the company’s US-based subsidiary, beginning in 1973. In 2002, he was named executive chairman, and was chief executive officer from 1992 to 2000. He joined Adolph Coors Company in 1971 where he held a number of executive and management positions. Mr. Coors is also a director of both Energy Corporation of America and University of Colorado Hospital. In addition, Mr. Coors is chairman of the University of Colorado Hospital Foundation and a trustee of Johnson & Wales University.

About Molson Coors Brewing Company

Molson Coors Brewing Company is a leading global brewer delivering extraordinary brands that delight the world’s beer drinkers. It brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Staropramen and Blue Moon across The Americas, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; across Europe through Molson Coors Europe; and outside these core markets through Molson Coors International. The company has been listed on the Dow Jones Sustainability World Index for the past four years and was named global Beverage Sector Leader in 2012 and 2013. Molson Coors is constantly looking for ways to improve its Beer Print. For more information on Molson Coors Brewing Company visit the company’s website, www.molsoncoors.com.